Ocwen Financial, Ultratek In Rare Base Setups

The recent short market correction didn't give stocks much time to form new bases. But a few top-rated stocks are shaping bases.

Ultratech (UTEK) appears to be forming a flat base that's part of a base-on-base pattern. The stock has been trading sideways since January, when it hit its best levels since November 1995.

The stock cleared a 34.99 buy point from a 16-week consolidation in December.

Ultratech makes lithography and laser-processing systems, which in turn are used to make semiconductors and light-emitting diodes.

SodaStream International (SODA) is about one week shy of a correction long enough to be considered a double-bottom base.

The stock is climbing above its rising 50-day moving average.

The Israeli maker of at-home soda carbonation systems has delivered double-digit earnings in the past four quarters, but analysts see a slight dip in first-quarter profit.

NetSuite (N)is in a flat base with a 75.85 buy point. It is on pace for a fourth straight weekly gain in above-average volume. NetSuite's Relative Strength line is at a new high ahead of price.

The stock is owned by well-regarded growth mutual funds such as Columbia Acorn and Fidelity Contrafund .

Sometimes breakouts don't work out on the first try, but stocks make good on second tries.

Mortgage Servicer Ocwen Financial (OCN) had a failed breakout past a 39.35 buy point last month, but recently climbed back above that trigger.

The stock is near the upper end of a buying range that goes to 41.32. Although Ocwen regained the 39.35 trigger last week in solid volume, mediocre volume this week indicates big buyers have been absent.

The recent short market correction didn't give stocks much time to form new bases. But a few top-rated stocks are shaping bases.

Ultratech (UTEK) appears to be forming a flat base that's part of a base-on-base pattern. The stock has been trading sideways since January, when it hit its best levels since November 1995.

The stock cleared a 34.99 buy point from a 16-week consolidation in December.

Ultratech makes lithography and laser-processing systems, which in turn are used to make semiconductors and light-emitting diodes.

SodaStream International (SODA) is about one week shy of a correction long enough to be considered a double-bottom base.

The stock is climbing above its rising 50-day moving average.

The Israeli maker of at-home soda carbonation systems has delivered double-digit earnings in the past four quarters, but analysts see a slight dip in first-quarter profit.

NetSuite (N)is in a flat base with a 75.85 buy point. It is on pace for a fourth straight weekly gain in above-average volume. NetSuite's Relative Strength line is at a new high ahead of price.

The stock is owned by well-regarded growth mutual funds such as Columbia Acorn and Fidelity Contrafund .

Sometimes breakouts don't work out on the first try, but stocks make good on second tries.

Mortgage Servicer Ocwen Financial (OCN) had a failed breakout past a 39.35 buy point last month, but recently climbed back above that trigger.

The stock is near the upper end of a buying range that goes to 41.32. Although Ocwen regained the 39.35 trigger last week in solid volume, mediocre volume this week indicates big buyers have been absent.

See Also

The mortgage servicer said that it had received a notice from a trustee terminating its services for pools of securitized mortgage loans. The agreements represented $260 mil, 0.07% of Ocwen Financial's (NYSE:OCN) total portfolio. It added that the terminations stem from a default triggered when ...

Israel-based stocks were in motion Wednesday, as SodaStream International dived 9%, CyberArk was flat and Mobileye geared up to report results before Thursday's open. Israel has an annual GDP between that of Singapore and Chile yet has one of the world's most developed economies. It muscled through ...

SodaStream (NASDAQ:SODA) shares sank to a new low Wednesday as the company said U.S. demand for its home-carbonation systems fell during the holiday quarter. Revenue tumbled 24.7% in the fourth quarter to $126.5 million, falling short of analysts' expectations for $127.1 million. Earnings shot up ...

Stocks scooped out quiet losses in early trade Monday as oil prices and economic news started the week on a down note. The Dow Jones industrial average dipped 0.3%. The S&P 500 edged 0.2% lower and the Nasdaq showed a 0.1% slip. Volume was quiet in the stock market today, down 64% on the Nasdaq ...

02/23/2015 10:24 AM ET

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